Broncos place franchise tag on Super Bowl MVP Von Miller

The Denver Broncos have placed their exclusive franchise tag on Super Bowl 50 MVP Von Miller.

That guarantees the star pass rusher a salary of $14.129 million for 2016.

However, both sides are confident they'll work out an extension before the July 15 deadline that will make Miller yet another $100 million player.

No other team can negotiate with Miller, who led Denver's destructive defence to a 24-10 victory over Cam Newton and the Carolina Panthers in the Super Bowl last month.

General manager John Elway had hoped to get a deal done with Miller's agent by Tuesday so he wouldn't have to use the franchise tag on the outside linebacker who has 60 sacks in his first five NFL seasons.